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, an investor and CEO of Business Insider. Blodget asked Cramer if he agrees with a call from Citigroup, which is forecasting a 65% chance of a recession next year. Cramer responded that manufacturing is in a recession, but since the U.S. is a service economy, "we'll do OK." Cramer advised staying away from manufacturing-related stocks like Caterpillar (CAT - Get Report) and Cummins (CMI) , but said to buy bank stocks, since interest rates are expected to go up.

Several viewers asked about auto stocks. Cramer said the stocks have peaked, which is why he doesn't like Ford (F) , and he added that General Motors (GM - Get Report) is really a story about capital allocation. He called Tesla Motors (TSLA - Get Report) a...